Franklin Resources, Inc. (NYSE:BEN) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Franklin Resources, Inc. (NYSE:BEN - Free Report) by 230.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 291,821 shares of the closed-end fund's stock after buying an additional 203,414 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Franklin Resources worth $5,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Franklin Resources by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 37,715,809 shares of the closed-end fund's stock worth $765,254,000 after acquiring an additional 1,095,373 shares in the last quarter. Amundi raised its holdings in Franklin Resources by 62.9% in the fourth quarter. Amundi now owns 3,752,326 shares of the closed-end fund's stock worth $75,928,000 after purchasing an additional 1,449,210 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Franklin Resources by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,097,979 shares of the closed-end fund's stock valued at $62,858,000 after buying an additional 99,405 shares during the period. Vest Financial LLC grew its position in shares of Franklin Resources by 32.1% in the 4th quarter. Vest Financial LLC now owns 2,923,399 shares of the closed-end fund's stock worth $59,316,000 after buying an additional 709,736 shares during the period. Finally, Norges Bank bought a new position in shares of Franklin Resources in the 4th quarter worth about $53,676,000. 47.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BEN has been the subject of a number of analyst reports. Morgan Stanley decreased their target price on shares of Franklin Resources from $18.00 to $15.00 and set an "underweight" rating for the company in a research note on Monday, April 7th. Barclays lowered their price objective on Franklin Resources from $22.00 to $17.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods raised their price target on Franklin Resources from $19.00 to $21.00 and gave the company an "underperform" rating in a report on Monday, February 3rd. BMO Capital Markets upped their price target on shares of Franklin Resources from $20.00 to $23.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Finally, Bank of America reduced their price objective on shares of Franklin Resources from $20.00 to $17.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Five equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, Franklin Resources presently has a consensus rating of "Hold" and a consensus target price of $18.96.

Franklin Resources Price Performance

Shares of NYSE BEN traded down $0.02 during midday trading on Friday, reaching $18.73. 3,536,151 shares of the stock traded hands, compared to its average volume of 4,313,624. The company's 50 day moving average is $19.11 and its 200 day moving average is $20.24. The stock has a market capitalization of $9.84 billion, a PE ratio of 28.82, a P/E/G ratio of 2.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.66. Franklin Resources, Inc. has a one year low of $16.25 and a one year high of $25.30.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The closed-end fund reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. Franklin Resources had a net margin of 4.32% and a return on equity of 9.45%. During the same period last year, the company posted $0.65 EPS. On average, equities research analysts anticipate that Franklin Resources, Inc. will post 2.16 earnings per share for the current year.

Franklin Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 6.83%. The ex-dividend date was Monday, March 31st. Franklin Resources's dividend payout ratio (DPR) is presently 196.92%.

Franklin Resources Company Profile

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.